Not exactly, Planteria. You've clearly not been giving this your undivided attention! But Tot shareholders in many cases ended up holding shares in this company due to a series of events over the last 5 or 6 years.

I've been doing a little digging to try to understand the changes here. I was interested because it was only last year that Credcard was making loud noises about how great a future it had. I was surprised that it was sold so soon.

Here's a reported statement from PG that I found interesting. It sounds almost as if PG might have a continuing interest in the "credecard" operation -- now owned by ID Data. And what of the shareholders? Well the little people (ie us) have been rolled out of the picture. We have shares in a thing called Alphatemps. It may be a lovely thing but it ain't Credecard.

Al I reading this correctly? If so then we may find we now own a pig a poke.

QUOTE --
Peter Gregory, CEO of CredEcard, said: 'The merger of our business with ID Data will allow us to fulfil our ambitious plans and become a major force in the pre-paid and associated financial services businesses.
'We have demonstrated our advanced capabilities in the payroll sector and have a pipeline of other exciting potential clients.
'Now we have a stronger group offering a fully integrated solution which will be delivering clients further advantages.
'We have been impressed with ID Data as a supplier and with their dynamic approach to acquiring our business and providing us with immediate new sales leads for our future growth.
'CredEcard has an attractive offering and combined with the international credibility of ID Data will, I believe, deliver success for all.'

Here's a link to the whole statement. You can find it by googling "Peter Gregory" and "ID Data" and going to the Citywire link.

It sounds almost as if PG might still be running the "independent" Credecard unit at ID Data, although it doesn't actually say that in those terms. Look at the language - "merger" and "independent business unit." The implication is that Credecard has found the funding it needs to go forwards.

Well I hope we got a good price. We now own a temp agency with a one page website. Alphatemps anyone?

Have we been outsmarted? Or should we be glad to have share in Alphatemps?

I don't speak as an expert in this business. I have felt, for a long time now, that the whole thing was run for the benefit of one P Gregory and that anything the 'mutual shareholders' would get out of it would be purely fortuitous. It would seem that he is going from one venture to another in the hope that one finally pays off bigtime. All we can hope is that it does so while we hold our shares.....